{"id":127873,"date":"2026-10-30T07:30:00","date_gmt":"2026-10-30T07:30:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=127873"},"modified":"2026-10-30T00:23:42","modified_gmt":"2026-10-30T00:23:42","slug":"budget-2026-who-to-gain-who-could-lose","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/budget-2026-who-to-gain-who-could-lose\/","title":{"rendered":"Budget 2026: Who Stands to Gain and Who Could Lose Under Labour\u2019s Financial Plans"},"content":{"rendered":"\n

The Budget, delivered on 28 October 2026<\/strong>, is the first under Prime Minister Andy Burnham’s government. It comes amid rising energy costs and pressure on household finances, with the Chancellor promising to give working people and businesses “breathing space”. Yet the measures will affect taxpayers differently, with some receiving direct assistance while others face higher bills from 2027.<\/p>\n\n\n\n

Pensioners, Workers and Households Receive Financial Support<\/strong><\/h2>\n\n\n\n

Around 20 million households in England living in council tax bands A to D <\/strong>will receive a \u00a3100 energy payment from January 2027. Funding will also be provided to the Scottish and Welsh governments to introduce equivalent support.<\/p>\n\n\n\n

The government will remove standing charges from domestic gas bills <\/strong>in 2027, or as soon as possible afterwards. These costs will instead be incorporated into unit prices, meaning households using more gas could pay more.<\/p>\n\n\n\n

According to The Telegraph<\/a>, the government estimates that 60% of households will save an average of \u00a345 annually through the change. The temporary VAT exemption on domestic electricity will also continue until July 2027.<\/p>\n\n\n\n

Pensioners will receive an increase in the full new state pension to \u00a313,036<\/strong> annually from April 2027, exceeding the frozen \u00a312,570 <\/strong>personal allowance. A new Pension Tax Allowance will protect those with income at or below the full new state pension from paying income tax.<\/p>\n\n\n\n

Workers aged 21 and over will see the National Living Wage increase by 3.9% to \u00a313.21 an hour, benefiting approximately 2.3 million workers<\/a>. The minimum wage for those aged 18 to 20 will rise to \u00a311.27.<\/p>\n\n\n\n

First-time buyers will also receive assistance through the \u00a34.7 billion Your First Home scheme. Eligible purchasers of newly built properties in England will need deposits of just 2.5%, supported by a government equity loan covering 20% of the property’s value.<\/p>\n\n\n\n

Small businesses in retail, hospitality and leisure will benefit from an increase in the rateable-value threshold for full business rates relief from \u00a312,000 to \u00a318,000.<\/p>\n\n\n\n

\n

My Budget today will help families with the pressures they face now.

It will back businesses and entrepreneurs, invest in Britain's future, and strengthen our national security.

A plan to get through this moment and build a stronger Britain. pic.twitter.com\/lSfzjWoiUv<\/a><\/p>— John Healey (@JohnHealey_MP) October 28, 2026<\/a><\/blockquote>